Indian Energy Exchange (IEX), country’s largest power trading exchange, has named SN Goel as the chief executing officer (CEO) and managing director (MD) of the company, the company said in a release.
Goel, who has almost four decades of experience in the power sector, joins the firm from power trading firm PTC Ltd where he served as a director in marketing & operations.
Before his stint at PTC, Goel had worked as executive director with NTPC Ltd where he worked in different areas of power plant such as design and engineering, project execution, operation and maintenance, commercial, business development and coal and gas sourcing. During the last two years of his stint, he was responsible for sourcing domestic & imported coal and gas for the 35,000 MW capacities of NTPC power stations.
He is an Electrical Engineer with an MBA in Finance.
“Goel’s transition from being a non-executive director to its chief executive could not have come at a better time. His vast domain experience in different verticals of the power industry will indeed enable power market rise to new heights,” said Venkat Chary, non-executive independent chairman at IEX.
IEX offers an online electricity trading platform for trading, clearing and settlement operations. Today, over 2600 participants across utilities from 27 states, five union territories (UTs), over 500 private generators and more than 2,300 open access consumers are leveraging the exchange platform to manage their power portfolio.
The country’s first energy trading platform was without a full-time CEO for sometime after the movement of its previous chief Jayant Deo.
IEX is promoted by Financial Technologies which is facing rough weather from the commodities market regulator FMC given the scam in group firm NSEL. FMC has said FTIL is not fit to run any exchange in the country.
(Edited by Joby Puthuparampil Johnson)